Two or more persons carrying on a business together. Partners are each fully liable for all the debts of the enterprise but they also share the profits exclusively. Their rights are regulated by their partnership agreement.

Person to whom a bill of exchange is made payable. On an ordinary cheque, the name preceded by the words "pay to the order of" identifies the payee.

Person who makes a payment on a cheque or bill of exchange.

Person who administers the estate of a deceased person. Where a person dies without a will, the court appoints an administrator. A personal representative named in a will is called an executor.

Person who brings a case to court. (Also called the petitioner or applicant.) The person being sued is generally called the defendant or respondent.

Written allegations or claims delivered by one claimant to another which formally set out the facts and legal arguments supporting his position. High Court pleadings might include an originating summons, statement of claim, defence, counterclaim and reply - or a petition and answer.

Document under seal which gives a person the right to make binding decisions for another, as an agent. A power of attorney may be specific to a certain kind of decision or general, in which the agent makes all major decisions for the subject of the power of attorney.

Court judgment which is cited as an authority in a later case involving similar facts. Precedent cannot bind a higher court (for example, a Circuit Court decision cannot bind a High Court judge). A Supreme Court judgment binds all courts - although it does not bind the Supreme Court itself in future cases. The system of precedent forms the basis of the policy of stare decisis which helps litigants to predict the outcome of a case in a given situation.

Person from whom an agent has received instructions and for whose benefit the agent acts and makes decisions. The principal has a duty to pay the agent any agreed sum or commission, and to indemnify him against any losses in the course of his agency.

That part of the law which regulates wills and other subjects related to the distribution of a deceased person's estate.

 Unconditional, written and signed promise to pay a certain amount of money on demand or at a certain defined date in the future. Unlike a bill of exchange, a promissory note is a promise - rather than an order - to pay.

Property is commonly thought of as something which belongs to a person and over which he has total control. But it is more correctly defined as a collection of legal rights over a thing. These rights are usually enforceable by the owner or the State against others. The most common classifications of property are between real or immovable property (such as land or buildings) and chattels or personal property (such as stock or a leasehold), and between public property (belonging to everybody or to the State) and private property.

Document or notice in which a company sets out details of a proposed share or bond issue, inviting the public to invest by purchasing the financial instruments. It must specify the nominal capital of the company, the names, addresses and descriptions of the directors, when the subscription lists open, the amount payable on application and on allotment of shares, and the rights in respect of different classes of share.